I used to think only price bars could predict the future. I started as a novice, experimenting with every indicator in the book. I could never get the markets to match my mathematics, so I finally gave up and became a pattern reader. In fact, my early writings are so pattern-centric they appear intolerant of all other trading techniques.
I use chart patterns in my trading because they give me tips on how a stock will perform. Sometimes the tip turns out to be a lie, but that’s okay. I use stops to limit losses (don’t you?). When the tips are accurate, I clean up. This article discusses two such tips: partial declines and partial rises. They forecast the breakout direction from a chart pattern.
A while back, I received several emails from readers wanting to know if they should short the crude oil market because of its lofty price levels. I responded that I don’t give specific trading recommendations, but I certainly do want to help my readers succeed at the difficult task of trading futures markets.
Trader income tax preparation can be overwhelming for the first-time filer. Even many experienced traders prefer to entrust their federal income tax return to Traders Accounting’s tax professionals rather than battle it alone. You know trading; we know trader taxes. It’s just common sense.
A day trader is a cross between an extrovert and an introvert, with both characteristics in balance, according to Mark Cook, a veteran trader from East Sparta, Ohio.